Reuters reported that India’s Finance Minister Palaniappan Chidambaram told journalists at a conference that relating to coal blocks, the country will only perceive a loss if coal is mined and sold at a lower than acceptable price.
As quoted in the market news:
Chidambaram said that out of 57 coal blocks highlighted in a report of the country’s federal auditor on the allocation process, only one was producing.
Chidambaram told reporters:
If coal is not mined, if coal remains buried in mother earth, where is the loss?